Chris Cassidy (@christophercassidy)

Well, well, well!  Another 3 million oz withdrawal from BlackRock's NYC $SLV ETF vault on February 19th, the 4th consecutive month of similar withdrawals, all occuring mid-month from a vault that had previously been untouched for years.  This seems to becoming almost a policy on their part. I'm going to hazard a prediction here: as I believe that $SLV NYC vault silver is in fact counted in the eligible pile in JPM's Comex vault silver (currently at 143.8 million ozs) AND the Comex system is desperate to free up eligible silver & place it into the registered status before the rush of long contracts standing for delivery occurs in a week AND if this 3 million oz $SLV withdrawal was in reality just a paper trade in ownership with a London entity's silver, THEN we should see a 3 million oz transfer of silver in the Comex JPM vault from 'Eligible' status into 'Registered' status occuring within the next few days.